Northwestern Mutual Wealth Management Co. Buys 7,878 Shares of iShares MSCI USA Momentum Factor ETF $MTUM

Northwestern Mutual Wealth Management Co. increased its stake in shares of iShares MSCI USA Momentum Factor ETF (BATS:MTUM) by 3.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 244,641 shares of the company’s stock after acquiring an additional 7,878 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in iShares MSCI USA Momentum Factor ETF were worth $49,449,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MTUM. Cullen Frost Bankers Inc. bought a new stake in shares of iShares MSCI USA Momentum Factor ETF during the first quarter valued at approximately $26,000. Mascagni Wealth Management Inc. bought a new stake in shares of iShares MSCI USA Momentum Factor ETF during the fourth quarter valued at approximately $29,000. Compass Wealth Management LLC bought a new stake in shares of iShares MSCI USA Momentum Factor ETF during the first quarter valued at approximately $30,000. Cornerstone Planning Group LLC grew its stake in shares of iShares MSCI USA Momentum Factor ETF by 140.3% during the first quarter. Cornerstone Planning Group LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of iShares MSCI USA Momentum Factor ETF during the first quarter valued at approximately $33,000.

iShares MSCI USA Momentum Factor ETF Price Performance

MTUM opened at $243.5650 on Friday. The firm has a 50 day simple moving average of $239.38 and a 200 day simple moving average of $222.55. iShares MSCI USA Momentum Factor ETF has a fifty-two week low of $168.49 and a fifty-two week high of $240.99. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 28.67 and a beta of 1.02.

About iShares MSCI USA Momentum Factor ETF

The iShares MSCI USA Momentum Factor ETF (MTUM) is an exchange-traded fund that is based on the MSCI USA Momentum SR Variant index. The fund tracks an index of large- and mid-cap US equities, selected and weighted based on price appreciation over 6- and 12-month periods and low volatility over the past 3 years.